Aguia receives the green light from the Federal Court

Last week I was somewhat off the grid in Rio Grande do Sul, the southern most state of Brazil. The purpose of the trip was to inspect a number of operations that supply fertiliser products to the extensive farming areas in that State. There is a lengthy strip of land either side of the highway south of the town of Caçaprava along which a number of facilities are based. Interesting, they mostly process limestone for agriproducts such as Aglime, but three of these are wanting to deal with Aguia Resources (AGR) to add phosphate to the list of products they produce and market.

Last week whilst on site the Company received wonderful news. The legal action that had prevented any progress over the past three years on the rock phosphate projects has been dismissed by the Federal Court. While there was a perception in the market that the project had been injuncted, the reality was that it was only an application for an injunction. The Court dismissed the application on the grounds that the application failed to make a case i.e. there was a lack of evidence. Hallelujah.

The Company is now free to progress with the final preparations ahead of the granting of an Operating Licence and the commencement of mining. There is nothing complicated here, though it could take 3-6 months. 

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